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About Debt Settlement Debt Settlement is Hard
About Debt Settlement Debt Settlement is Hard
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| Written by David Banervos | |
| Friday, 25 April 2008 16:51 | |
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If you are reading this you are either curious about debt settlement or you already know you need an alternative to bankruptcy. Ignoring the problem won't make it go away so what do you do? Well, you can declare bankruptcy but then be labeled for the next 10 years every time somebody runs your credit. At least with debt settlement you can overcome some of the stigma after a few years. I personally believe that negotiating your debt is better option. At least you're making an effort to pay back some of what you borrowed. Besides, you have probably paid what you owe in late fees and interest already anyway. Did you know that creditors can raise your interest rate if you have been late on a different line of credit? Example: if you have paid on time every time with your Wells Fargo Visa but you're late on your JC Penney even once, Wells can raise your interest rate because your risk is higher. Talk about piling on! That's nuts. The whole system is nuts! What can you do? Well, don't take it in the shorts any more. Get off the debt treadmill and start over. Settling your debt isn't the easiest thing in the world to do, though. It takes a commitment to finally see light of day. Know that at the end of it you're going to be debt free and with what you've learned through the process you're not going to let yourself get into that situation again. Real debt relief comes at the end of the process when you can lick your wounds and recover. The weight that is off your shoulders at that moment when your debt negotiator calls you to tell you they are finally done is incredible. Think about that for a second. What would it feel like for you to finally be out of debt? I kind of think back to those Lipton ice tea commercials of the 80's where the guy is holding a glass of ice tea and falls back into the pool. Refreshing? Eh...maybe more of a shock to the system. Let's try something better...how about a good nights sleep when you wake up on your own without the ringing alarm clock and you have nothing scheduled all day; you can just do what you want with no deadline. Ahhhh....there we go. I love a good night's sleep, don't you? |